Node Analytica
@nodeanalytica
Global macro & crypto insights to the public. Building institutional - retail porftolios.
This is a comparison of the third halving cycle of #Bitcoin vs. #Ethereum. It looks somewhat similar to date. Will ETH catch up to its rival in terms of performance?
The TGA has skyrocketed from $300–400 billion to >$1 trillion. Above $800 billion, the Treasury is draining reserves from the banking system at a rapid pace. Liquidity is somewhat tighter at the margin, and risk assets are more sensitive to any funding shocks.
Is it possible that banks' reserves at the Fed will return to the $3 trillion level? The latest data shows an increase. #Fed #Macro
Bills (4-8w) – ON RRP: the spread has clearly returned to positive territory (>5 bp), signalling that money market funds prefer T-bills to parking cash in the ON RRP. Less pressure on RRP, more private demand to finance the Treasury in the short term.
The U.S. labor force participation rate among prime-age workers 25 to 54 stood at 83.7% in August—the most recent data available—just below the cyclical peak of 83.9% in August last year.
According to our macro indicator for detecting bull and bear markets, #Bitcoin has been in a bearish phase for a few days now. Personally, I don't think this is the end of the cycle, but we'll see soon enough.
Our Macro Trend Monitor on equities shows a strong market position at the moment. We will see how sensitive it is to private employment survey data.
The TGA is approaching USD 1 billion. What is Scott Bessent up to? Will there be a cash injection from the state soon?
The Unreallized P/L metric measures the unrealised profit or loss in aggregate across all #BitcoinETFs. This week the unrealised profit has fallen by about 10%, from 20% profit to the current 10%.
#Bitcoin Hash Ribbons Recent crossing of the MA 30D above the MA 60D, everything seems to indicate that the mining capitulation is over.
#Bitcoin Miner Price The bitcoin mining price line is just touching the price line, this means that there has been a reduction of fees in the last blocks of the chain.
United States Trends
- 1. Sinners N/A
- 2. Oscar N/A
- 3. Jack Smith N/A
- 4. FINALLY DID IT N/A
- 5. The REKT N/A
- 6. Best Picture N/A
- 7. Kate Hudson N/A
- 8. Delroy Lindo N/A
- 9. No Other Choice N/A
- 10. He-Man N/A
- 11. Jared Leto N/A
- 12. METLIFE N/A
- 13. #fancymedia N/A
- 14. Chase Infiniti N/A
- 15. Nekima Levy Armstrong N/A
- 16. #MountainOfBusch N/A
- 17. Wicked N/A
- 18. Jim Jordan N/A
- 19. Academy N/A
- 20. #BTS_ARIRANG N/A
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